Bloomberg: Saudi Arabia to cut oil prices for buyers from all regions

Saudi Arabia will reduce crude oil prices for buyers from all countries by $1.5-2 per barrel, TASS reports with reference to Bloomberg

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Saudi Aramco will reduce the price by $1.5-2 per barrel. According to the news agency, oil consumption typically eases during February and March, with oil refineries shutting down some of their facilities for regular maintenance.

Bloomberg also reports that world crude oil prices dropped in 2023 for the first time since 2020. The price market has not yet responded to the conflict in the Gaza Strip and the Houthi militant attacks on merchant ships in the Red Sea.